● Covered by 1 source · 1 reportMedium impact1 neutral
Letterboxd Reportedly Up for Sale, A24, Sony, and New York Times Among Bidders
Key points
- Letterboxd is reportedly for sale for over $300 million.
- A24, Sony Pictures, and The New York Times are potential bidders.
- The platform has grown to 30 million users from 1.8 million in 2020.
- Projected to earn $15 million this year from subscriptions and ads.
Letterboxd Seeks New Ownership
Letterboxd, a social networking application for film enthusiasts, is reportedly on the market. Sources indicate the asking price for the platform exceeds $300 million. This valuation is approximately 20 times its projected earnings of $15 million for the current year.
Major Media Companies Express Interest
Among the potential acquirers, A24, Sony Pictures, and The New York Times have reportedly shown interest in purchasing Letterboxd. The involvement of these diverse media entities suggests a broad appeal for the platform's user base and data.
Significant User Growth and Revenue Model
Founded in 2011 by Matthew Buchanan and Karl von Randow, Letterboxd has experienced substantial growth, expanding from 1.8 million users in 2020 to 30 million users currently. The platform generates revenue through paid Pro ($19/year) and Patron ($49/year) subscription tiers, in addition to advertising.
Value of Engaged Audiences
Media analyst Ken Doctor noted that Letterboxd's appeal lies in its engaged audience, which includes both paying subscribers and a demographic attractive to advertisers. This combination represents a valuable asset in the current internet landscape.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
Film social networking app Letterboxd is reportedly for sale with an asking price over $300 million. A24, Sony Pictures, and The New York Times are among the entities that have expressed interest in acquiring the platform. This potential acquisition highlights the value of engaged online communities to media companies and advertisers.